The largest foreign debtors of VTB Bank are residents of Cyprus, follows from the published revised bank statements. The debt, which was previously mistakenly attributed to the Central African Republic, is now listed as Cyprus.
The liabilities of Cypriot residents to VTB for the third quarter increased by 198 billion rubles. and amounted to 1.036 trillion rubles. New data on Cyprus is obtained by adding up the debt attributed to the reports of the CARs and Cyprus itself published on November 27. From the new statements also disappeared mention loans issued to the Holy See of the Vatican to 10.9 billion rubles.
Information about a loan of $ 12 billion, issued by VTB Bank to the Central African Republic, appeared in the report as a result of a technical error, the data will be adjusted, a representative of VTB told RBC on the eve.
A loan of 801.9 billion rubles, or $ 12 billion, allegedly issued by the CARs, was reported by Reuters in VTB reporting. The representative of the government of the Central African Republic, Ange Maxim Kazagi, told Reuters that the information about the loan sounds improbable. “I do not have this information. But this sounds unbelievable, because the sum of $ 11 billion exceeds the ability of our country to service the debt, "said Kazagi. The previously mentioned amount is more than six times the annual production of CARs.
New debtors of VTB
In the third quarter, foreign borrowers ’debt to VTB Bank increased by 644.6 billion rubles, or 37.7%, to 2.35 trillion rubles, and the number of foreign jurisdictions where non-residents who have liabilities to the bank are based grew from 93 to 109, follows from the updated reporting. The largest increase in debt for residents of Cyprus (plus 198 billion rubles, up to 1.036 trillion rubles), Great Britain (plus 106 billion, up to 230 billion rubles), Belarus (plus 53 billion, up to 65 billion rubles), the Netherlands (plus 43 billion, up to 91 billion rubles.) and Ireland (plus 39 billion, up to 55 billion rubles.). In addition, VTB has new offshore borrowers that were not available on July 1: from the Cayman Islands (23 billion rubles), Gibraltar (10 billion rubles) and Guernsey (7 billion rubles).
The credit portfolio of VTB in Ukraine decreased by 1 October immediately by 115 billion rubles, to 32 billion rubles. compared with 148 billion rubles. on July 1st.
From the report of the VTB Group under IFRS for the third quarter of 2018 and the September reporting under RAS, in September, VTB issued foreign currency loans to foreign legal entities in the equivalent of about 434 billion rubles. (over $ 6 billion) for a period of more than three years, taking into account the exchange rate revaluation. Some of these legal entities could be related to each other, since the total amount of loans issued by the VTB Group to the ten largest groups of interrelated borrowers increased in the quarter by a comparable amount of 403 billion rubles. Information from VTB on the sectoral breakdown of borrowing clients shows that loans to “state authorities” (legal entities associated with authorities) in the third quarter increased by 446 billion rubles, while loans to other industries did not change so much.
Reuters reported earlier, citing nine sources, that VTB allegedly issued a loan of $ 6 billion to Qatar’s sovereign fund (Qatar Investment Authority, QIA) in September to buy a 14% stake in Rosneft from the consortium QIA and Glencore. VTB denied this information. Reporting on October 1 shows that Qatari borrowers owe VTB only 2.3 billion rubles, these are balances on old loans.